Arcellx, Inc. (NASDAQ:ACLX) Insider Christopher Heery Sells 3,301 Shares

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,301 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $79.55, for a total transaction of $262,594.55. Following the completion of the transaction, the insider now owns 35,517 shares in the company, valued at $2,825,377.35. This represents a 8.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Christopher Heery also recently made the following trade(s):

• On Monday, January 6th, Christopher Heery sold 3,061 shares of Arcellx stock. The shares were sold at an average price of $77.17, for a total transaction of $236,217.37.

Arcellx Stock Down 5.2 %

NASDAQ ACLX traded down $4.12 during trading hours on Monday, hitting $75.01. 1,085,230 shares of the stock were exchanged, compared to its average volume of 606,243. Arcellx, Inc. has a 12-month low of $47.88 and a 12-month high of $107.37. The stock has a 50-day moving average of $85.95 and a 200 day moving average of $75.49. The company has a market cap of $4.06 billion, a price-to-earnings ratio of -105.65 and a beta of 0.33.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.06. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The business had revenue of $26.03 million during the quarter, compared to the consensus estimate of $35.21 million. On average, equities research analysts expect that Arcellx, Inc. will post -1.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ACLX. Redburn Atlantic initiated coverage on shares of Arcellx in a research report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price target for the company. Piper Sandler boosted their target price on Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 8th. UBS Group upped their target price on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 price target on shares of Arcellx in a research report on Monday, December 9th. Finally, Morgan Stanley increased their price objective on Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Thirteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $105.93.

Institutional Investors Weigh In On Arcellx

A number of hedge funds and other institutional investors have recently bought and sold shares of ACLX. Quest Partners LLC acquired a new position in shares of Arcellx during the 2nd quarter worth $27,000. Decheng Capital LLC purchased a new stake in Arcellx during the second quarter worth about $65,000. National Bank of Canada FI grew its position in Arcellx by 50.0% during the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after buying an additional 500 shares during the period. Quarry LP purchased a new position in Arcellx in the third quarter valued at about $125,000. Finally, Covestor Ltd lifted its position in shares of Arcellx by 53,766.7% during the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after acquiring an additional 1,613 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Company Profile

Arcellx, Inc, together with its subsidiary, engages in the development of various immunotherapies for patients with cancer and other incurable diseases in the United States. The company’s lead ddCAR product candidate is anitocabtagene autoleucel, which is in phase 2 clinical trial for the treatment of patients with relapsed or refractory multiple myeloma (rrMM).